Chapter 7 - THE ASHCOMBE LAND DEALAn independent trust review found one.
Ashcombe Manor sat on 240 acres.
The family trust owned all of it.
Helena had arranged a long-term development option on forty acres through a company called Harcourt Development Partners.
Celia’s family.
There it was.
The option price was based on a valuation from six years earlier.
Since then, nearby land prices had nearly tripled.
If exercised, Harcourt could obtain development rights at a steep discount.
Helena had disclosed the relationship generally.
Not the full financial benefit.
Her charitable foundation would receive a “consulting contribution” after closing.
Legal?
Possibly.
Ethically conflicted?
Absolutely.
An independent descendant fiduciary could freeze the deal.
Sage’s recognition made that review mandatory.
Now Celia’s involvement made sense too.
Her family had millions tied to Helena keeping influence for another few weeks.
The orange juice was not worth millions.
The timing around Sage was.
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Someone had reduced a seven-year-old child to a governance obstacle.
Again.
